Current Awareness in Aging Research (CAAR) Report #597 -- July 21, 2011

CAAR (Current Awareness in Aging Research) is a weekly email report produced by the Center for Demography of Health and Aging at the University of Wisconsin-Madison that helps researchers keep up to date with the latest developments in the field. For more information, including an archive of back issues and subscription information see:

1. BOSTON COLLEGE CENTER FOR RETIREMENT RESEARCH PUBLIC PLANS DATABASE: "The Public Plans Database (PPD) contains comprehensive financial, governance, and plan design information for 126 state and local defined benefit plans. At the state level, the PPD covers 107 plans, which represent more than 90 percent of all state government pension assets and members. At the local level, the PPD covers 19 plans, which represent more than 20 percent of all local government pension assets and members. On a combined basis, the PPD represents more than 85 percent of total state and local government pension assets and members." The database has been updated through 2010. Various extraction/download options are available at the site.

C. "OIG Advisory Opinion No. 11-09 ("advisory opinion regarding the use of a 'preferred hospital' network as part of Medicare Supplemental Health Insurance ('Medigap') policies, whereby [names redacted] would indirectly contract with hospitals for discounts on the otherwise applicable Medicare inpatient deductibles for their policyholders and in turn would provide a $100 premium credit to policyholders who utilize a network hospital for an inpatient stay (the 'Proposed Arrangement')" (July 2011, .pdf format, 7p.).

17. EUROPEAN CENTRE FOR SOCIAL WELFARE POLICY AND RESEARCH [VIENNA, AUSTRIA] ISSUE BRIEF: "Exclusion from Material Resources among Older People in EU Countries: New Evidence on Poverty and Capability Deprivation," by Asghar Zaidi (Issue Brief 2, July 2011, .pdf format, 17p.).

A. Is God Still at the Bedside? The Medical, Ethical, and Pastoral Issues of Death and Dying, by Abigail Rian Evans, reviewed by Pat Fosarelli (JAMA. 2011;306(3):319, Jul. 20, 2011. doi: 10.1001/jama.2011.1005).

28. HARVARD UNIVERSITY PROGRAM ON THE GLOBAL DEMOGRAPHY OF AGING: "Population aging and endogenous economic growth," by Klaus Prettner (WP 72, July 2011, .pdf format, 29p.).

Abstract:

This article investigates the consequences of population aging for long-run economic growth perspectives. We introduce age specific heterogeneity of households into a model of research and development (R&D) based technological change. We show that the framework incorporates two standard specifications as special cases: endogenous growth models with scale effects and semi-endogenous growth models without scale effects. The introduction of an age structured population implies that aggregate laws of motion for capital and consumption have to be obtained by integrating over different cohorts. It is analytically shown that these laws of motion depend on the underlying demographic assumptions. Our results are that (i) increases in longevity have positive effects on per capita output growth, (ii) decreases in fertility have negative effects on per capita output growth, (iii) the longevity effect dominates the fertility effect in case of endogenous growth models and (iv) population aging fosters long-run growth in endogenous growth models, while the converse holds true in semiendogenous growth frameworks.

The impending retirement of the baby boom cohort represents the first time in the history of the United States that such a large and well-educated group of workers will exit the labor force. This could imply skill shortages in the U.S. economy. We develop medium-term labor force projections of the educational demands on the workforce and the supply of workers by education to assess the potential for skill imbalances to emerge. Based on our formal projections, we see little likelihood of skill shortages emerging by the end of this decade. More tentatively, though, skill shortages are more likely as all of the baby boomers retire in later years, and skill shortages are more likely in the medium-term in states with large and growing immigrant populations. We discuss conflicting evidence on skill shortages based on alternative projections as well as criticisms of the definition of skill requirements, concluding that our projections are likely the most reasonable.

B. "The Effects of Health Shocks on Employment and Health Insurance: The Role of Employer-Provided Health Insurance," by Cathy J. Bradley, David Neumark, and Meryl I. Motika (W17223, July 2011, .pdf format, 23p.).

Abstract:

We study how mens dependence on their own employer for health insurance affects labor supply responses and loss of health insurance coverage when faced with a serious health shock. Men with employment-contingent health insurance (ECHI) are more likely to remain working following some kinds of adverse health shocks, and are more likely to lose insurance. With the passage of health care reform, the tendency of men with ECHI as opposed to other sources of insurance to remain employed following a health shock may be diminished, along with the likelihood of losing health insurance.

30. PENSION RESEARCH COUNCIL, WHARTON SCHOOL, UNIVERSITY OF PENNSYLVANIA: Note: PRC requires free registration before providing working papers. "Beyond Age and Sex: Enhancing Annuity Pricing," by Joelle HY. Fong (WP2011-07, June 2011, .pdf format, 52p.). Links to an abstract and full text are available at:

34. AMEDEO MEDICAL LITERATURE: Note: "AMEDEO has been created to serve the needs of healthcare professionals, including physicians, nurses, pharmacists, administrators, other members of the health professions, and patients and their friends. They can easily access timely, relevant information within their respective fields... All AMEDEO services are free of charge. This policy was made possible thanks to generous unrestricted educational grants provided by AMGEN, Berlex, Eisai, Glaxo Wellcome, Novartis, Pfizer, Roche, and Schering AG."

A. "Social and Behavioral Research on the Elderly in Disasters (R01)" (PA-11-263, National Institute on Aging, with companion FOAs PA-11-264--Social and Behavioral Research on the Elderly in Disasters (R03), and PA 11-265--Social and Behavioral Research on the Elderly in Disasters (R21), multiple application deadlines). For more information, as well as links to the companion FOAs, see:

B. "Network Infrastructure Support for Emerging Areas of Research in the Basic Biology of Aging (R24)" (PAR-11-266, National Institute on Aging, multiple application deadlines). For more information see:

38. US SENATE SPECIAL COMMITEE ON AGING HEARING TESTIMONY: "A Prescription for Savings: Reducing Drug Costs to Medicare, a hearing held Jul. 21, 2011 (.pdf format). In addition to the print testimony, a video transcript of the hearing (running time: 2 hours, 10 minutes, 30 seconds) is available at the site.

It is not by muscle, speed, or physical dexterity that great things are achieved, but by reflection, force of character, and judgement; and in these qualities old age is usually not only not poorer, but is even richer